Signature Motorhomes & Leisure Limited 08897386 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is the sale of motorhomes and caravans. Digita Accounts Production Advanced 6.30.9574.0 true 08897386 2022-09-01 2023-08-31 08897386 2023-08-31 08897386 core:RetainedEarningsAccumulatedLosses 2023-08-31 08897386 core:ShareCapital 2023-08-31 08897386 core:CurrentFinancialInstruments 2023-08-31 08897386 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 08897386 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 08897386 core:OtherResidualIntangibleAssets 2023-08-31 08897386 core:FurnitureFittingsToolsEquipment 2023-08-31 08897386 core:LandBuildings 2023-08-31 08897386 core:MotorVehicles 2023-08-31 08897386 core:OtherPropertyPlantEquipment 2023-08-31 08897386 bus:SmallEntities 2022-09-01 2023-08-31 08897386 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 08897386 bus:FullAccounts 2022-09-01 2023-08-31 08897386 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 08897386 bus:RegisteredOffice 2022-09-01 2023-08-31 08897386 bus:Director1 2022-09-01 2023-08-31 08897386 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 08897386 core:IntangibleAssetsOtherThanGoodwill 2022-09-01 2023-08-31 08897386 core:OtherResidualIntangibleAssets 2022-09-01 2023-08-31 08897386 core:ComputerEquipment 2022-09-01 2023-08-31 08897386 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 08897386 core:LandBuildings 2022-09-01 2023-08-31 08897386 core:LeaseholdImprovements 2022-09-01 2023-08-31 08897386 core:MotorVehicles 2022-09-01 2023-08-31 08897386 core:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 08897386 core:PlantMachinery 2022-09-01 2023-08-31 08897386 countries:EnglandWales 2022-09-01 2023-08-31 08897386 2022-08-31 08897386 core:FurnitureFittingsToolsEquipment 2022-08-31 08897386 core:LandBuildings 2022-08-31 08897386 core:MotorVehicles 2022-08-31 08897386 core:OtherPropertyPlantEquipment 2022-08-31 08897386 2021-09-01 2022-08-31 08897386 2022-08-31 08897386 core:RetainedEarningsAccumulatedLosses 2022-08-31 08897386 core:ShareCapital 2022-08-31 08897386 core:CurrentFinancialInstruments 2022-08-31 08897386 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 08897386 core:Non-currentFinancialInstruments core:AfterOneYear 2022-08-31 08897386 core:FurnitureFittingsToolsEquipment 2022-08-31 08897386 core:LandBuildings 2022-08-31 08897386 core:MotorVehicles 2022-08-31 08897386 core:OtherPropertyPlantEquipment 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 08897386

Signature Motorhomes & Leisure Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

Pages for filing with Registrar

 

Signature Motorhomes & Leisure Limited

Contents


 

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 11

 

Signature Motorhomes & Leisure Limited

Company Information


 

Director

Mr M Hardicker

Registered office

72 Roman Way
Longridge Road
Preston
PR2 5BB

 

Signature Motorhomes & Leisure Limited

(Registration number: 08897386)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

3,454

-

Tangible assets

6

92,461

97,743

 

95,915

97,743

Current assets

 

Stocks

1,317,429

314,503

Debtors

7

679,181

653,839

Cash at bank and in hand

 

874,039

411,360

 

2,870,649

1,379,702

Creditors: Amounts falling due within one year

8

(2,490,872)

(1,084,262)

Net current assets

 

379,777

295,440

Total assets less current liabilities

 

475,692

393,183

Creditors: Amounts falling due after more than one year

8

(76,058)

(92,223)

Net assets

 

399,634

300,960

Capital and reserves

 

Called up share capital

1

1

Retained earnings

399,633

300,959

Shareholders' funds

 

399,634

300,960

 

Signature Motorhomes & Leisure Limited

(Registration number: 08897386)
Balance Sheet as at 31 August 2023 (continued)

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 February 2024
 

.........................................
Mr M Hardicker
Director

 

Signature Motorhomes & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
72 Roman Way
Longridge Road
Preston
PR2 5BB

These financial statements were authorised for issue by the director on 15 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A for small entities and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Government grants

The company recognises government grants on the accruals model under FRS102.

Grants that compensate the company for expenses incurred are recognised in profit or loss on a systematic basis in the periods in which the expenses are recognised.

 

Signature Motorhomes & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Signature Motorhomes & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Plant and machinery

20% on reducing balance

Computer equipment

33% on cost

Motor vehicles

20% on cost

Leasehold Improvements

20% on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

20% Straight line

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposit held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Signature Motorhomes & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Signature Motorhomes & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Classification
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company’s statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2022 - 8).

 

Signature Motorhomes & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 August 2023 (continued)

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

24,253

9,696

Amortisation expense

776

-

5

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions acquired separately

4,230

4,230

At 31 August 2023

4,230

4,230

Amortisation

Amortisation charge

776

776

At 31 August 2023

776

776

Carrying amount

At 31 August 2023

3,454

3,454

 

Signature Motorhomes & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 August 2023 (continued)

6

Tangible assets

Land and buildings
£

Computer equipment
 £

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 September 2022

-

3,669

103,191

10,002

116,862

Additions

8,447

466

7,380

2,678

18,971

At 31 August 2023

8,447

4,135

110,571

12,680

135,833

Depreciation

At 1 September 2022

-

3,434

8,443

7,242

19,119

Charge for the year

1,408

270

21,376

1,199

24,253

At 31 August 2023

1,408

3,704

29,819

8,441

43,372

Carrying amount

At 31 August 2023

7,039

431

80,752

4,239

92,461

At 31 August 2022

-

235

94,748

2,760

97,743

Included within the net book value of land and buildings above is £7,039 (2022 - £Nil) in respect of long leasehold land and buildings.
 

 

Signature Motorhomes & Leisure Limited

Notes to the Financial Statements for the Year Ended 31 August 2023 (continued)

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

166,951

183,968

Amounts owed by related parties

503,939

465,227

Other debtors

 

8,291

4,644

 

679,181

653,839

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

16,727

14,937

Trade creditors

 

446,202

182,844

Amounts owed to related parties

40,022

860

Other taxation and social security

 

331,422

317,510

Other creditors

 

1,656,499

499,872

Accruals and deferred income

 

-

68,239

 

2,490,872

1,084,262

Due after one year

 

Loans and borrowings

76,058

92,223

Consignment stock creditor, disclosed in other creditors, amounts to £1,047,373 (2022 - £432,167). Distribution Finance Capital Limited hold a fixed and floating charge over the property or undertaking of the company.

Barclays Bank plc holds a fixed and floating charge over the assets of the company.